On June 23, 2022, AMOGY Inc. closed the transaction. The company has received $16 million in its final tranche led by new investor SK Innovation Co., Ltd. The transaction also included participation from new investor Saudi Aramco Energy Ventures LLC and returning investors The Climate Pledge Fund, a fund managed by Amazon.com Inc., Investment Arm, AP Ventures LLP and New Lab, LLC. The company has raised $46 million in transaction.

The company has raised $70 million in funding till date. The company has issued non-convertible debt and option, warrant or other right to acquire another security in the transaction. The company has raised $45,570,000 pursuant to exemption provided under Regulation D from five investors.